Category: News

HFM Introduces New Virtual Analyst

Posted on by Adam Smith
HFM virtual analyst Kate
The award-winning broker brings markets closer to its clients with the use of artificial intelligence (AI).

HFM, a global multi-asset broker, has made an intriguing advancement by introducing Kate, its virtual analyst. For HFM, the purpose of introducing Kate is to assist traders in staying updated with significant market trends and facilitating them in making well-informed trading choices.

Kate, the AI avatar created by HFM, possesses the remarkable capacity to converse fluently in over 120 languages and accents. In addition to its lifelike appearance, Kate serves as an extra source for HFM clients to obtain insights about the worldwide financial markets and enables them to stay ahead of the game. This tool is a valuable asset for HFM with its main purpose that for training, how-to, and product marketing videos.

An HFM representative expressed their enthusiasm for the virtual analyst, stating how thrilled they are to connect with the global clientele through this interactive, enjoyable, and captivating medium. He noted that their main objective is to enhance accessibility to the financial markets for the broker’s current and potential clients. To achieve this they want to provide the traders with an immersive trading experience and this time they aim to do so with the assistance of their virtual analyst, Kate.

As such, HFM views the implementation of AI in its services, as a significant and favorable advancement that can provide traders with an immersive trading experience and enhance their trading abilities. This technology not only enables HFM to gain deeper insights into their clients’ needs and develop more empathetic interactions but also enhances communication and increases client satisfaction and loyalty. Overall, HFM considers this integration of AI to be a valuable development that can benefit both the company and its clients.

About HFM

HF Markets Group, operating under the brand name HFM, previously known as HotForex, is a globally recognized multi-asset broker, serving over 3.5 million live accounts worldwide, and has received over 60 industry awards over the past twelve years. The company provides a range of account types, innovative products, platforms, tools, and educational resources, along with exceptional customer service and unmatched trading conditions, to support individuals and institutional customers in their online Forex and CFD trading activities.

Apple Relists Popular MT4 MT5 Trading Apps After Six-Month Delisting

Posted on by Adam Smith

Apple has relisted the popular trading apps MetaTrader4 and MetaTrader5 on its AppStore after a six-month delisting. This means that iOS users can once again download the two trading platforms and that existing users will receive updates. Thus, you have the possibility to trade with TriumphFX which uses the MT4 trading platform.

Apple relists popular MT$ MT5 trading platforms
MT4 MT5 are back on iOS

The relisting follows a lengthy negotiation process between MetaQuotes, the Cyprus-based software company behind the apps, and Apple. MetaQuotes was required to provide detailed explanations on operational technicalities and other requested insights to satisfy Apple's requirements.

  • MetaTrader4 and MetaTrader5 are leading third-party trading platforms in the retail forex and contracts for differences (CFDs) trading industry, with a total market share of 83.8% as of the end of Q2 2022, according to Finance Magnates Intelligence.
  • The delisting last September came as a surprise to many in the industry, with no proper explanation given by Apple for the move. However, industry insiders speculated that the company was concerned about the use of the apps by offshore-based fraudsters.
  • The delisting forced MetaQuotes to focus on its web-based mobile platform, and the company launched a new MT5 web terminal last November, highlighting that there was no need to download a mobile app from the Apple App Store or Google Play.

Despite the setback, MetaQuotes has continued to innovate, recently launching a messaging app with financial news and analytics tips for traders. The company also offers a "Tradays Forex Calendar" on the AppStore and five applications on Google Play, including the two trading platforms and an app that shows the current US dollars/Colombian pesos exchange rate with historical price data.

The relisting of the popular trading apps on Apple's AppStore is a welcome development for MetaQuotes and its users. It will enable iOS users to continue using popular trading platforms and benefit from the latest updates and features.

Credit Suisse Shares Surge After Swiss Central Bank Backstop and Debt Buyback

Posted on by Adam Smith
Credit Suisse Shares Surge
Credit Suisse Shares

Credit Suisse shares have made a strong recovery, increasing by over 20% on Thursday, after the bank announced plans to borrow up to CHF 50 billion ($54 billion) from the Swiss National Bank (SNB) and buy back around CHF 3 billion worth of its debt. The move aims to improve liquidity and ease investor concerns following a turbulent week for the lender. The SNB had stated on Wednesday that it was prepared to provide a liquidity backstop after Credit Suisse's stock price plunged by as much as 30%.

The decline in share price came as the chair of Saudi National Bank, a key Credit Suisse shareholder, dismissed the possibility of further investment. The drop also coincided with turmoil in global banking stocks following the collapse of Silicon Valley Bank. Credit Suisse stated that its decision to borrow from the SNB was a proactive measure to bolster liquidity through a loan facility and a short-term liquidity facility.

In an effort to buy back debt, the bank plans to tender a cash offer for 10 US dollar-denominated senior debt securities worth up to $2.5 billion and four euro-denominated senior debt securities worth up to €500 million. The offers are set to expire on March 22.

  • CEO Ulrich Körner described the steps as "decisive action to strengthen Credit Suisse" as the bank continues its strategic transformation. Körner's restructuring efforts have included the sale of part of Credit Suisse's investment bank and the elimination of thousands of jobs. Yields on the bank's bonds dropped slightly following the announcement, while spreads on its five-year credit default swaps fell from 980 basis points to 898 bps. Meantime, check out swap-free account forex brokers for safe trading.
  • UK Chancellor Jeremy Hunt and Bank of England Governor Andrew Bailey are said to be monitoring the situation closely. Analysts have suggested that the improved liquidity position and the support from the SNB and Swiss Financial Market Supervisory Authority will help Credit Suisse regain the trust of investors. However, some uncertainty still remains.
  • The latest developments at Credit Suisse have prompted speculation about the bank's future, with JPMorgan analysts suggesting that a takeover, possibly by UBS, is the most likely scenario. This comes as Credit Suisse attempts to rebuild investor confidence following a series of scandals and setbacks that pushed its stock price to an all-time low.

Credit Suisse's announcement and the SNB's liquidity backstop have provided much-needed relief for the beleaguered bank, whose shares had plummeted 39% this year and 85% over the past two years. The bank's market value had fallen below CHF 7 billion, just months after raising CHF 4 billion in capital.

The lender's challenges were further compounded earlier this week when PwC, its auditor, identified "material weaknesses" in Credit Suisse's financial reporting controls. This led to a delay in the publication of the bank's annual report. On Wednesday, Saudi National Bank chair Ammar Alkhudairy stated that the bank had no plans to provide further capital to Credit Suisse, despite having acquired a 10% stake in the Swiss bank last year.

Alkhudairy cited concerns about unwanted regulatory requirements as a result of owning a larger share in Credit Suisse but expressed support for the bank's restructuring plan, adding that he did not believe it required additional capital.

The recent events at Credit Suisse have drawn attention to the vulnerability of European banks, which hold significant bond portfolios whose paper value has been impacted by rising interest rates. While the bank's measures have helped to alleviate immediate concerns, Credit Suisse must continue its strategic transformation and address remaining uncertainties to rebuild investor confidence and secure its long-term future.

ZuluTrade Gains FSC Approval to Offer Wealth Management Services, Expanding Its Market Presence

Posted on by Adam Smith
ZuluTrade Gains FSC Approval to Offer Wealth Management Services

Social trading leader ZuluTrade has announced its expansion into the wealth management sector, following approval from the Financial Services Commission (FSC) of Mauritius (Licence No. IK21000018). As a member of the Finvasia Group of companies, ZuluTrade can now provide an array of wealth management services, broadening its offerings to investors and brokers alike.

In January 2023, Finvasia Capital Limited received an Investment Banking Licence from the FSC, which extends to group companies such as ZuluTrade. This approval marks a significant achievement for both companies. Finvasia Group Co-founder and CMD Sarvjeet Virk commented on the development, stating that the FSC license represents an important milestone on ZuluTrade's roadmap and opens new growth horizons for the company.

Under the new license, the platform can provide services such as Investment Dealer, Investment Adviser, Corporate Finance Advisory, Asset Management, and Distribution of Financial Products. The firm will offer broker-agnostic social wealth management and social trading services, giving investors access to a wide range of tools and resources, regardless of their chosen platform or broker. These offerings include diversification of instruments, social feeds, access to strategies, backtesting, and the Trading Automator.

ZuluTrade also presents a compelling proposition for brokers at an institutional level, enabling them to expand into new verticals by joining the network. The company's versatile technology allows brokers operating on MT4, MT5, ActTrader, or XOH infrastructure to seamlessly offer ZuluTrade's social wealth management services to their clients without limitations.

Finvasia's Co-founder and ZuluTrade CEO Tajinder Virk highlighted the opportunities that the Mauritius licensing presents, stating that the company aims to make wealth management simple, social, and accessible to all investors. The company's broker-agnostic technology offers access to a wide range of markets and ready-made strategy proposals, giving investors the freedom to choose their preferred platform or broker, setting ZuluTrade apart from its competitors.

To learn more about the company and its service offering visit ZuluTrade's official website.

Stock Indexes Rise and Dollar Weakens While Oil Rallies

Posted on by Adam Smith

Stock indexes advanced on Thursday, although they finished below session highs, while the dollar declined as investors shifted their focus to upcoming inflation data and the interest rate hike outlook. Longer-dated U. Treasury yields fell in anticipation of Friday's personal consumption expenditures (PCE) data release. Economists predict core prices to have risen by 0.4% in February and posted a 4.7% annual increase.

The US dollar slipped to a one-week low against the euro, bolstered by German inflation data. Oil prices increased over 1% due to lower US crude stockpiles and an export halt from Iraq's Kurdistan region, counterbalancing pressure from a smaller-than-expected cut to Russian supplies.

Investors' risk appetite on Thursday was fueled by hopes of bank turmoil containment and speculation that central banks worldwide are nearing the end of their interest rate hiking cycles, according to Jeff Kleintop, Chief Global Investment Strategist at Charles Schwab. However, hawkish comments from Federal Reserve officials raised concerns among investors, who were bracing for Friday's critical economic data and potential volatility from traders' end-of-quarter position adjustments.

Despite recent events, including the collapse of two US banks and the rescue of a major European bank, which led to speculation that the Fed might halt rate hikes to avoid a broader crisis, Federal Reserve officials signaled that more work was needed to address inflation. The focus on inflation and the Fed's stance pushed stock markets higher, with technology shares contributing the most significant gains.

In the currency market, the dollar index fell 0.477%, while the euro rose 0.57% against the dollar. The Japanese yen and Sterling also strengthened against the greenback. US crude oil prices rose 1.92%, and Brent increased by 1.25%. Gold prices gained as a weaker dollar and lower bond yields drove demand for the precious metal, with investors closely watching US inflation data to assess the Fed's next move.

HFM Adds More Popular Stocks On MT4

Posted on by Adam Smith
HFM new stocks to trade
The award-winning brokers new CFD stocks have flexible leverage, low spreads and competitive commission.

HFM, a globally recognized broker for multiple assets, has expanded its product offerings to over 3,500 as part of its continued commitment to providing a superior trading experience and diverse portfolio opportunities for its clients.

CFD stocks of new blue-chip assets from the US, Germany, and France have been incorporated into the MT4 platform of the broker. This development enables traders to access the stocks of some of the most demanded and largest corporations worldwide, such as JPMORGAN, BMW, and BNP. Furthermore, incorporating these stocks provides traders low spreads, flexible leverage, and competitive commissions.

According to a spokesperson from HFM, the company's reputation as one of the best brokers in the industry is partly due to its unwavering dedication to expanding its range of products, improving its services, and refining its trading conditions whenever possible. HFM is thrilled to introduce these new stocks to its traders, maintaining the exceptional trading conditions that customers have come to expect.

To view the complete list of available stocks, please visit the HFM website.

About HFM

HFM, formerly known as HotForex, is a brand name of HF Markets Group, an internationally acclaimed multi-asset broker of choice to over 3.5 million live accounts worldwide that has earned over 60 coveted industry awards in its twelve-year history. The company offers a wide variety of account types, innovative products, platforms, tools, and educational resources besides outstanding customer service and unparalleled trading conditions to facilitate individuals and institutional customers to trade Forex and CFDs online.

CMC Markets Introduces Investment Platform for Singapore

Posted on by Adam Smith

CMC Markets has revealed the 'soft launch' of its latest online and mobile trading platform, "CMC Invest," in Singapore.

CMC Markets Introduces Investment Platform for Singapore
CMC Invest Introduced in Singapore

This development represents another significant step in the UK brokerage's geographical expansion, following its recent in-principle approval for a Singapore stockbroking-related entity. The launch is part of CMC's ongoing effort to diversify and broaden its global presence through technology, leveraged institutional offerings, and non-leveraged platforms.

With a 16-year history in Singapore and offering CFDs since 2007, CMC Markets has a solid foundation for the success of CMC Invest. The platform aims to address the diverse needs of local clients seeking more sophisticated investment products and services. The Singapore-based version of CMC Markets features a wide range of products, including stocks, ETFs, options, and futures. It boasts a transparent platform without hidden fees such as inactivity and settlement charges.

CMC Invest will offer clients zero commission and real-time pricing on a wide array of listed products, along with research tools like Trading View Charting, ESG rankings, Opto content, and Thematic Investing. Existing Singaporean clients can access the new platform beginning next month while onboarding for new clients is set to commence in the third quarter.

Christopher Forbes, Head of CMC Invest Singapore, highlighted the importance of providing a reliable and transparent platform for investors during volatile market periods. He emphasized the company's responsibility to offer clients an easy-to-use, robust platform with the right tools and guidance. The platform will also include research notes and investment insights to help clients make more informed investment decisions.

Shares of CMC Markets, listed on the London Stock Exchange, faced a challenging environment in February and March, with lower equity volumes and a higher proportion of lower-margin institutional trading activity. The company anticipates its FY 2023 net operating income to fall between £280-290 million and has warned of increased costs, leading analysts to reduce their earnings forecasts.

To learn about the broker, please read our detailed review of CMC Markets.

Twitter Partners with eToro to Bring Stock and Cryptocurrency Trading to Users

Posted on by Adam Smith
Twitter Partners with eToro
Twitter Partners with eToro

Twitter is set to introduce a new feature in partnership with social trading company eToro that will allow users to access stocks, cryptocurrencies, and other financial assets directly through the platform. The integration will expand Twitter's existing cashtags feature and enable users to buy and sell assets via eToro.

Currently, Twitter users can view real-time trading data from TradingView on index funds like the S&P 500 and individual stocks such as Tesla using the platform's cashtags feature. By entering a ticker symbol preceded by a dollar sign, users can access price information from TradingView via an API.

The collaboration with eToro will expand Twitter's cashtags to cover a wider range of financial instruments and asset classes. Users will also be able to click a "view on eToro" button that redirects them to eToro's site, where they can then trade assets on the platform. eToro uses TradingView as its market data partner.

  • Yoni Assia, eToro's CEO, highlighted the growth of his company and its users' increasing interactions on Twitter. He believes the partnership will help eToro tap into new audiences and strengthen the connection between the Twitter and eToro brands.
  • This partnership marks a significant business deal for Twitter since Elon Musk took over as CEO after acquiring the platform for $44 billion last year. Under Musk's leadership, Twitter has reduced its headcount from 8,000 to 1,500 to cut costs and achieve profitability. However, this move has also caused concerns among advertisers about potential lapses in content moderation standards.

Despite Musk's recent announcement that "almost all" advertisers had returned to the platform, companies like Stellantis and Volkswagen have yet to resume advertising on Twitter. Assia confirmed that the same Twitter team responsible for the stock market data tool collaborated on previous partnerships with eToro.

Founded in 2007, eToro is an online brokerage that allows users to trade stocks, cryptocurrencies, and index funds. The platform has over 32 million registered users across Europe, Asia, and the United States and is known for its feature that lets users mimic the trading strategies of other users.

Read our comprehensive review on eToro or visit eToro's website etoro.com

FXCM Launches New Platforms in Response to All-Time High Retail Volumes

Posted on by Adam Smith
FXCM launches new platforms
FXCM

FXCM, a leading online FX and CFD broker, has announced the launch of two new platforms in partnership with Adaptive Financial Consulting, a trading technology provider. According to FXCM, the new platforms are designed to support a larger number of instruments and a progressive web application (PWA) that provides greater access globally to its products and services.

The launch of the new trading platforms comes as retail trading has hit an all-time high, with non-institutional market participation accounting for around 23% of market volume. FXCM's new platforms are aimed at making it even easier for this increasingly important segment of the market to access key markets and take advantage of new opportunities.

  • Brendan Callan, CEO of FXCM, commented on the importance of innovation in the trading technology space: "Trading technology is constantly changing and as a leading player, it’s vital that we embrace innovation to stay ahead of the competition. Our new platform and web-based app provide our clients with the optimal experience and a suite of products and tools they need to succeed."

The two new platforms join FXCM's existing proprietary trading platforms, Trading Station Desktop and Trading Station Mobile, as well as an extensive MT4 offering and API trading opportunities via a proprietary API, FIX, and Java.

FXCM's new web-based platform, built using React, replaces the firm's previous web platform and will integrate an array of tools and features in the coming months. The company's new progressive web application (PWA) provides an app-like experience to users, while still being accessible through a web browser. It eliminates the need to download and install an app, making it easier for clients in jurisdictions without access to FXCM's native trading applications to access its services. The PWA also works offline and in low-quality network conditions.

The launch of these new platforms reflects FXCM's commitment to innovation and ensuring that its clients have access to cutting-edge trading technology.

Read our detailed review of FXCM broker.